EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2015

Earnings per share (EPS) were as follows (amounts in thousands, except per share data):



	Three months ended						Nine months ended
	September 30,						September 30,
	2015			2014			2015			2014
				(As restated)						(As restated)
Net loss attributable to Titan	$	(31,476	)	$	(9,067	)	$	(24,473	)	$	(27,415	)
Redemption value adjustment	(11,051		)	(16,330		)	(11,401		)	(18,007		)
Net loss applicable to common shareholders	$	(42,527	)	$	(25,397	)	$	(35,874	)	$	(45,422	)
Determination of Shares:
Weighted average shares outstanding (basic and diluted)	53,707			53,497			53,685			53,484
Earnings per share:
Basic and diluted	(0.79		)	(0.47		)	(0.67		)	(0.85		)

The effect of stock options/trusts has been excluded for the three and nine months ended September 30, 2015 and 2014, as the effect would have been antidilutive. The weighted average share amount excluded was 0.2 million for the three and nine months ended September 30, 2015. For the three and nine months ended September 30, 2014 the weighted average share amount excluded was 0.2 million and 0.3 million, respectively.

The effect of convertible notes has been excluded for the three and nine months ended September 30, 2015 and 2014, as the effect would have been antidilutive. The weighted average share amount excluded for convertible notes totaled 5.6 million shares for the three and nine months ended September 30, 2015 and 2014 .